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Facebook (FB) COO Sheryl Sandberg last week sold 353K Facebook shares, netting her $7.44M, while...

Facebook (FB) COO Sheryl Sandberg last week sold 353K Facebook shares, netting her $7.44M, while General Counsel Theodore Ullyot and Chief Accounting Officer David Spillane also offloaded millions of dollars worth of stock. The sales were the first by senior management since Facebook's IPO in May, and came after the latest lock-up expiry.
Comments (13)
  • ATG1977
    , contributor
    Comments (159) | Send Message
     
    bravo! And the flood gates have opened....
    4 Nov 2012, 03:53 AM Reply Like
  • SoldHigh
    , contributor
    Comments (995) | Send Message
     
    Smart. Sell before single digits imo.
    4 Nov 2012, 08:38 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    It's not actual, realized wealth until you sell especially with this overvalued trend stock - good for them.
    4 Nov 2012, 11:22 AM Reply Like
  • idkmybffjill
    , contributor
    Comments (1550) | Send Message
     
    You realize Sandberg sold less than 2% of her shares right? No, not good for them....she should have sold more.
    4 Nov 2012, 11:59 AM Reply Like
  • Dennis Baker
    , contributor
    Comments (1075) | Send Message
     
    $7.4 million is a nice cash out. Enough where she can diversify a bit, get a few nice things, and keep a good sized chunk in the company. Selling more would have been stupid. High profile executives selling big portions of their shares are exactly what would cause a huge hit in the stock price she doesn't want to see. She cashed enough out for her needs and can easily hedge the rest of her investment without causing the public scrutiny a bigger sale would draw.
    4 Nov 2012, 12:05 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    This is a nice transfer from investors (sorry I mean punters) to insiders. This will continue.
    4 Nov 2012, 04:44 PM Reply Like
  • Dennis Baker
    , contributor
    Comments (1075) | Send Message
     
    The initial scam... now that was pretty horrible for outsiders. This? This is nothing. About 95% of public companies on record have employees cashing out a bit after the IPO.
    4 Nov 2012, 05:06 PM Reply Like
  • pman6
    , contributor
    Comments (270) | Send Message
     
    I can hear them say
    "I'm RICH, b*tch! and you're all suckers."
    4 Nov 2012, 06:39 PM Reply Like
  • jammerculture
    , contributor
    Comments (393) | Send Message
     
    the jump before lockup expiration is highly suspect imo.

     

    The COO's sale for example would have been roughly 6.9mil before the gap.

     

    Just saying
    4 Nov 2012, 06:49 PM Reply Like
  • thor34
    , contributor
    Comments (94) | Send Message
     
    More sales on the way

     

    Sandberg Sheryl K Officer Planned Sale 509,268 -- – -- -- $10.8 M
    Ullyot Theodore War... Officer Planned Sale 800,000 -- – -- -- $16.8 M
    Sheryl K Sandberg 2... Trustee Planned Sale 20,088 -- – -- -- $422.0 K
    Very quiet, I expect some news on FB buying some company in the next day or two prior to the 777 wave.
    8 Nov 2012, 10:09 AM Reply Like
  • Dennis Baker
    , contributor
    Comments (1075) | Send Message
     
    This is a nasty time to have the lockout expire. Hanging onto shares knowing that your tax rate is likely going up 33% in a month and a half.
    8 Nov 2012, 02:58 PM Reply Like
  • thor34
    , contributor
    Comments (94) | Send Message
     
    Ogre,

     

    Yep, there will be blood.
    8 Nov 2012, 03:03 PM Reply Like
  • thor34
    , contributor
    Comments (94) | Send Message
     
    More Selling reported from the C suite:

     

    http://yhoo.it/XnXIee
    8 Nov 2012, 06:54 PM Reply Like
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